Cardinal Health Bearish Moving Average Crossover Alert (CAH)

Written on Thu, 04/19/2018 - 10:33am

By Nick Russo

Today, shares of Cardinal Health (NYSE:CAH) have crossed bearishly below their 10-day moving average of $62.76 on a volume of 386K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Cardinal Health have traded between a low of $54.66 and a high of $85.52 and are now at $62.38, which is 14% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cardinal Health on March 20th, 2018 by issuing a Downtrend alert when the shares were trading at $67.74. Since that call, shares of Cardinal Health have fallen 5.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.